AITechNodeabout 1 hour ago
Alibaba AI spending lifts capex 75% as profit falls 76%
1 min read
Alibaba's June-quarter net income fell 76% to RMB10.54 billion despite revenue rising 9% to RMB268.95 billion. Capital expenditure jumped 75% to RMB67.68 billion on AI infrastructure investment. AI cloud revenue hit RMB48.44 billion, up 45%, while AI product revenue grew triple digits for the 12th straight quarter.
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